Philanthropy is a well-known part of US culture. For US citizens living abroad, charitable giving has a number of pitfalls that require careful consideration and planning.
For many Americans, charitable giving forms part of their way of life. Whether it is through regular donations to their alma mater or funding for medical breakthroughs, Americans are known for their philanthropic activities.In fact, the US is a leader when it comes to charitable donations, often giving in greater proportion than their closest counterparts. In 2017, charitable giving in the US reached an estimated $410bn[1] (£315bn), a figure that far outpaces the £10.3bn[2] given to charity in the UK in the same year.
The reason for the disparity goes beyond the scale of the US population. The political and social environment in the US is also a major factor. With lower levels of government funding for the arts, education, healthcare and the wider community than the UK, many wealthy Americans feel a greater need and responsibility to contribute part of their wealth towards these causes.
To read the entire article, visit The Cable
